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When I talk about CRM, I’m talking about Customer Relationship Management. Do you know what the largest CRM system in the world is called? Facebook.

Facebook knows practically everything about its users

Facebook has over 1 billion profiles and if your profile is active, Facebook knows everything about you – where you went to grade school, where you went to high school, where you went to college or university, who your friends are, what you like, what you don’t like – and even what your friends like.

Identifying consumer patterns with Facebook data

If I studied your five best friends, the five people you spend most of your time with, and took an average of their incomes or net worth, it would probably be within a few thousand dollars of your own.

Once you target the right prospect and understand exactly who your ideal customer is, with social media you’ll have access to large networks of people who have similar values, incomes and taste. They are already connected, and there’s no faster or more effective way to get to them than through social media. The amazing part is, it’s not secretive.

Competitive analysis with Facebook data

If I called a competitor and said, “Would you be so kind as to send me an email with all of your clients and all of the people that you do business with currently?” It probably wouldn’t go too well.

But, in a few seconds, I can go to that competitor’s Facebook page and find out exactly who they have relationships with. I can even get a sense of how strong those relationships are.

Think about that. Think of the power we have today that we didn’t have before.

Time to discard “Pay and Pray advertising”

You no longer need to use “pay and pray advertising.” Now you can simply tell LinkedIn or Facebook that you only want to market to people that like the kinds of products you sell or companies like yours. On top of that, you’re only going to pay when one of those people click on your ad. And you only have to pay $1 per click.

That’s how it works today.

Learn more from my book

The Million Dollar Minute – The Secrets of how we sold 367 Condos in 90 Minutes, and how You can too!